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The phone bill for a company consists of both fixed and variable costs. Refer to the four-month data below and apply the highlow method to
The phone bill for a company consists of both fixed and variable costs. Refer to the
four-month data below and apply the
highlow method to answer the question.
| Minutes | Total Bill | |
| January | 480 | $5,000 |
| February | 220 | $2,690 |
| March | 170 | $2,655 |
| April | 320 | $2,850 |
What is the fixed portion of the total cost? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
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